Manatuck Hill Partners LLC Increases Holdings in MannKind Co. (NASDAQ:MNKD)

Manatuck Hill Partners LLC increased its holdings in shares of MannKind Co. (NASDAQ:MNKD - Free Report) by 33.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 300,000 shares of the biopharmaceutical company's stock after acquiring an additional 75,000 shares during the quarter. Manatuck Hill Partners LLC owned approximately 0.11% of MannKind worth $1,929,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of MNKD. E Fund Management Co. Ltd. raised its stake in shares of MannKind by 9.0% during the 4th quarter. E Fund Management Co. Ltd. now owns 22,039 shares of the biopharmaceutical company's stock worth $142,000 after purchasing an additional 1,828 shares during the period. Xponance Inc. grew its stake in MannKind by 10.6% in the 4th quarter. Xponance Inc. now owns 19,067 shares of the biopharmaceutical company's stock worth $123,000 after buying an additional 1,828 shares in the last quarter. Summit Investment Advisors Inc. lifted its stake in MannKind by 10.4% during the fourth quarter. Summit Investment Advisors Inc. now owns 28,174 shares of the biopharmaceutical company's stock worth $181,000 after purchasing an additional 2,657 shares during the last quarter. AXQ Capital LP grew its holdings in shares of MannKind by 19.8% during the 4th quarter. AXQ Capital LP now owns 22,530 shares of the biopharmaceutical company's stock valued at $145,000 after purchasing an additional 3,717 shares during the last quarter. Finally, Franklin Resources Inc. boosted its holdings in MannKind by 3.0% during the 3rd quarter. Franklin Resources Inc. now owns 160,016 shares of the biopharmaceutical company's stock valued at $1,047,000 after acquiring an additional 4,603 shares during the period. Hedge funds and other institutional investors own 49.55% of the company's stock.

MannKind Price Performance

MannKind stock traded up $0.07 during mid-day trading on Wednesday, reaching $4.85. The stock had a trading volume of 572,376 shares, compared to its average volume of 2,375,710. MannKind Co. has a one year low of $4.17 and a one year high of $7.63. The company has a 50-day moving average price of $4.92 and a two-hundred day moving average price of $5.86. The company has a market capitalization of $1.47 billion, a price-to-earnings ratio of 69.07 and a beta of 1.14.

MannKind (NASDAQ:MNKD - Get Free Report) last announced its quarterly earnings results on Wednesday, February 26th. The biopharmaceutical company reported $0.03 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.03. The firm had revenue of $76.78 million for the quarter, compared to the consensus estimate of $74.99 million. MannKind had a net margin of 8.07% and a negative return on equity of 17.74%. On average, equities research analysts anticipate that MannKind Co. will post 0.1 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on MNKD shares. Wedbush reiterated an "outperform" rating and issued a $11.00 price objective on shares of MannKind in a report on Thursday, February 27th. Mizuho began coverage on shares of MannKind in a research report on Thursday, April 10th. They set an "outperform" rating and a $12.00 price target on the stock. Finally, StockNews.com upgraded MannKind from a "hold" rating to a "buy" rating in a research note on Wednesday, March 19th. Eight investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $9.56.

MannKind Profile

MannKind Corporation, a biopharmaceutical company, focuses on the development and commercialization of inhaled therapeutic products for endocrine and orphan lung diseases in the United States. It offers Afrezza, an inhaled insulin used to improve glycemic control in adults with diabetes, and the V-Go wearable insulin delivery device, which provides continuous subcutaneous infusion of insulin in adults.